Best MYR to USD Exchange Rates - Compare Providers & Save

BER Home | FX Markets | MYR | MYR/USD

RM100 MYR
=
U$23 USD

^*Converted at interbank exchange rate, scroll down to compare foreign transfer and spend/travel exchange rates.

What's in this MYR to USD guide?

Latest rate & 90-day trend
Quick conversion amounts
Comparing provider rates
Foreign transfer rates
Travel money rates
Market news & forecasts
How to get best rates
Historic rates

Latest interbank exchange rate:

1 MYR = 0.2300 USD

Sell MYR / Buy USD

MYR to USD 90-day trend

14-DAY-LO (3d)

MYR/USD at 0.23 was trading 0.9% below AVG:0.2322 with LO:0.2251 and HI:0.2415 (90 days). There are no current rate alerts.

29-MAY 6PM-NY 11PM-LON 30-MAY 6AM-HK 8AM-SYD

Malaysian Ringgit to US Dollar - Quick Conversions

MYR	USD
RM 1	U$ 0.2300
RM 5	U$ 1.1500
RM 10	U$ 2.3000
RM 20	U$ 4.6000
RM 50	U$ 11.50
RM 100	U$ 23.00
RM 250	U$ 57.50
RM 500	U$ 115.00
RM 1,000	U$ 230.00
RM 2,000	U$ 460.00
RM 5,000	U$ 1,150
RM 10,000	U$ 2,300
RM 50,000	U$ 11,500
RM 100,000	U$ 23,000
More amounts

MYR	USD
RM 4.3475	U$ 1
RM 21.74	U$ 5
RM 43.48	U$ 10
RM 86.95	U$ 20
RM 217.38	U$ 50
RM 434.75	U$ 100
RM 1,087	U$ 250
RM 2,174	U$ 500
RM 4,348	U$ 1,000
RM 8,695	U$ 2,000
RM 21,738	U$ 5,000
RM 43,475	U$ 10,000
RM 217,375	U$ 50,000
RM 434,750	U$ 100,000
More amounts

To calculate your own MYR/USD amounts use our Convert MYR to USD quick calculator.

Comparing Foreign Exchange Providers

The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees. These margins and fees vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions.

The Exchange rate you are offered can also vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for MYR/USD International Money Transfers. Costs are calculated against the current interbank mid-rate.

MYR to USD International Money Transfers

Send RM1,000 Malaysian ringgit MYR → U.S. dollar USD

Foreign Transfer Provider	Receive USD(U$)	Exchange Rate	Fee MYR	Deal Links
OFX International Money Transfers	U$227.20 1.22% Best Overall	0.2272	0 for BER users (normally $15)	Visit Site
Maybank International Money Transfers	U$219.78 4.44% U$7.42 less	0.222	RM10.00
OCBC Bank International Money Transfers	U$219.78 4.44% U$7.42 less	0.222	RM10.00
United Overseas Bank International Money Transfers	U$219.78 4.44% U$7.42 less	0.222	RM10.00
HSBC International Money Transfers	U$216.97 5.67% U$10 less	0.2173	RM1.50
Citibank International Money Transfers	U$212.72 7.51% U$14 less	0.2153	12
Banks - Average Rate Average of bank rates	U$217.81 5.3% U$9.39 less	0.2197	15

Visit OFX

OFX: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	0 for BER users (normally $15)
Exchange Rate:	0.2272 (1.22% from mid-rate)
To Amount (USD)	U$227.20
Total Cost:	1.22%
Time:	Rate Fetched: 14:35 Local
Transfer Speed:	1-2 days
Services:	Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:	: 4.8/5.0
Reviews:	20 Reviews

Maybank: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	RM10.00 MYR (1%)
Exchange Rate:	0.2220 (3.48% from mid-rate)
To Amount (USD)	U$219.78
Total Cost:	4.44%
Difference:	U$7.42 USD less than using OFX
Time:	14:35 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Reviews:

OCBC Bank: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	RM10.00 MYR (1%)
Exchange Rate:	0.2220 (3.48% from mid-rate)
To Amount (USD)	U$219.78
Total Cost:	4.44%
Difference:	U$7.42 USD less than using OFX
Time:	14:35 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Reviews:

United Overseas Bank: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	RM10.00 MYR (1%)
Exchange Rate:	0.2220 (3.48% from mid-rate)
To Amount (USD)	U$219.78
Total Cost:	4.44%
Difference:	U$7.42 USD less than using OFX
Time:	14:35 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Reviews:

HSBC: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	RM1.50 MYR (.15%)
Exchange Rate:	0.2173 (5.52% from mid-rate)
To Amount (USD)	U$216.97
Total Cost:	5.67%
Difference:	U$10 USD less than using OFX
Time:	14:35 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Reviews:

Citibank: Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	12
Exchange Rate:	0.2153 (6.39% from mid-rate)
To Amount (USD)	U$212.72
Total Cost:	7.51%
Difference:	U$14 USD less than using OFX
Time:	14:35 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Reviews:

Banks - Average Rate

Foreign Transfer MYR→USD
From Amount (MYR)	RM1,000
Fee:	15
Exchange Rate:	0.2197 (4.48% from mid-rate)
To Amount (USD)	U$217.81
Total Cost:	5.3%
Difference:	U$9.39 USD less than using OFX
Transfer Speed:
Services:

Snapshot 05/30/2020 - View live rates

The below comparison table displays the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

US Dollar (USD) Country Guides

United States (USD)	East Timor (USD)	Ecuador (USD)
El Salvador (USD)	British Virgin Islands (USD)	US Virgin Islands (USD)
Caribbean Netherlands (USD)	Turks and Caicos Islands (USD)	Zimbabwe (USD)

Malaysian Ringgit and US Dollar Forecasts

When determining the best time to make a foreign exchange transaction, in this case the MYR vs USD, you should pay attention to the recent market trends for both currencies.

Malaysian Ringgit (MYR)

Malaysia was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it added to negative sentiment, which then spurred a rise in USD/MYR to a 6-month high (MYR low) of RM4.2.

Among factors contributing to the ringgit’s weakness over the past year has been political uncertainty relating to Malaysia’s ruling Pakatan Harapan coalition, late-2018’s crash in oil prices, global trade tensions and higher US interest rates.

US Dollar (USD)

In early May the continuing coronavirus pandemic and an associated possible re-escalation in the US-China trade tensions has moved the market into safer currencies such as the USD and JPY.

Goldman Sachs and RBC Capital forecast a large drop for US dollar against Japanese Yen to continue with a USD/JPY rate of 95 in the near future.

The US dollar held its value in 2019 despite the US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

How to get Best MYR to USD Exchange Rates

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).

The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

What is a good MYR to USD exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the MYR to USD exchange rate over periods upto 10 years.

Period	Date	Rate
1 Week	19 May 2020	0.2300
30 Days	26 Apr 2020	0.2294
90 Days	26 Feb 2020	0.2367
1 Year	27 May 2019	0.2389
5 Years	28 May 2015	0.2742
10 Years	29 May 2010	0.3057

MYR/USD 10 year historic rates

When is the best time to exchange MYR to USD?

Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.

Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.

Setup BER.me FX Alerts